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Chris Capre
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Chris Capre is a professional forex, index futures and commodities trader, specializing in Price Action & Ichimoku trading. Chris applies his methods to the markets both intraday and medium term swing trading, and has been trading for over 13 years. He is also the manager for a private fund... More
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2ndSkiesForex
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Trading Price Action and Pivot Points
  • Gold Forms Inside Bar At Support, More Upside? Dec. 6th 0 comments
    Dec 6, 2012 10:11 PM

    Gold
    Today Gold formed an inside bar which followed a 2-way bar from Weds. I suspect have the suspicion the massive selling in Gold is some form of unwinding portfolios for the end of the year, or profits taken from Gold's rise as other asset classes have under-performed.

    Either way, near term resistance is at the $1705 level which already rejected weds. If it clears this, then the doors are open for a move up to $1715. Any break below $1685 sets up a trip towards the critical $1673 lows which are the 3-mos low for the precious metal.

    (click to enlarge)

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